Harris Williams & Co. Advises Woodcraft Industries, Inc. on its Sale to Quanex Building Products Corporation

November 3, 2015

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Woodcraft Industries, Inc. (Woodcraft), a leading hardwood and engineered wood door and component supplier to kitchen and bath cabinet manufacturers, to Quanex Building Products Corporation (Quanex). Harris Williams & Co. served as the exclusive advisor to Woodcraft, a portfolio company of Olympus Partners (Olympus). The transaction was led by Mike Hogan of Harris Williams & Co.’s Building Products & Materials Group and Glenn Gurtcheff, Ryan Freeman and Andy Warczak of the firm’s Consumer Group.

“Woodcraft’s management team and Olympus have done a phenomenal job of building the company into an industry leader. With their proven track record and strong financial performance, we look forward to seeing the company’s continued success as part of Quanex,” said Mike Hogan, a managing director at Harris Williams & Co. 

For more than 70 years, Woodcraft has been recognized as one of the leading providers of hardwood and engineered wood doors and components to prominent kitchen and bath cabinet manufacturers throughout North America. Woodcraft's 13 production facilities and four distribution locations throughout the U.S., Canada and Mexico ensure industry-leading capabilities, responsiveness and quality assurance for a broad range of products, including hardwood doors, hardwood components, engineered wood and drawer components. 

Founded in 1988, Olympus is a private equity firm focused on providing equity capital for middle market management buyouts and for companies needing capital for expansion. Olympus is an active, long-term investor across a broad range of industries, including business services, restaurants, consumer products, healthcare services and financial services. Olympus manages in excess of $5.5 billion on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs.

Quanex is headquartered in Houston, Texas with locations around the world. Its mission is to positively impact its customers, employees and shareholders and put them at the center of everything they do, through innovation, technology, best-in-class customer service and excellent returns. An industry-leading manufacturer of engineered materials and components for building products sold to Original Equipment Manufacturers (OEMs), Quanex designs and produces energy-efficient window and door products, systems and solutions.

Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide.  The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

Harris Williams & Co.’s Building Products & Materials Group has completed over 75 transactions with leading manufacturers, distributors, or installation/service providers across a broad range of sectors in the industry, including cabinetry, plumbing products; windows and doors; flooring; roofing and siding; insulation; drywall and ceiling tiles; HVAC and electrical; aggregates; asphalt; ready-mix concrete; pre-cast concrete; water and wastewater; and construction services.  For more information on the firm’s Building Products & Materials Group, visit the Building Products & Materials Group’s section of the Harris Williams & Co. website.

Harris Williams & Co.’s Consumer Group has completed more than 100 transactions in recent years across a variety of verticals, including branded consumer products; consumer services; food, beverage, and agribusiness; and restaurant and retail.  For more information on Harris Williams & Co.’s Consumer Group and other recent transactions, visit the Consumer Group’s section of the Harris Williams & Co. website.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority.  Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.